Exhibit 12.2
Virginia Electric and Power Company
Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends
(millions of dollars)
Years Ended | |||||||
Nine Months Ended September 30, 2006 | Twelve Months Ended September 30, 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | |
Earnings, as defined: | |||||||
Earnings before income taxes and minority interests in consolidated subsidiaries | $616 | $ 707 | $ 754 | $ 929 | $ 875 | $1,248 | $700 |
Fixed charges included in the determination of net income | 232 | 337 | 333 | 258 | 309 | 301 | 309 |
Total earnings, as defined | $848 | $1,044 | $1,087 | $1,187 | $1,184 | $1,549 | $1,009 |
Fixed charges, as defined: | |||||||
Interest charges | $231 | $335 | $329 | $256 | $318 | $308 | $319 |
Preference security dividend requirements of consolidated subsidiaries | 19 | 24 | 25 | 25 | 25 | 25 | 38 |
Rental interest factor | 8 | 11 | 10 | 9 | 10 | 10 | 10 |
Total fixed charges, as defined | $258 | $370 | $364 | $290 | $353 | $343 | $367 |
Ratio of Earnings to Fixed Charges and Preferred Dividends | 3.29 | 2.82 | 2.99 | 4.09 | 3.35 | 4.52 | 2.75 |